Contributed Articles Tagged 'British Virgin Islands'

Lack of efficient ways to receive financial information from foreign countries has been a serious obstacle to the government's desire to impose tax on residents' income received and stored abroad... Read Full Article »

During the last few months, this sector has been under fire. Commonly referred to as "offshore", but what exactly does it mean, what do offshore people do? More importantly, what is its contribution? Should we continue with this sector? Read Full Article »

Cyprus became an independent and sovereign republic on 16 August 1960. Before that it was a British colony and many features of the British legal system have remained embedded in the judicial system of Cyprus... Read Full Article »

Since his inauguration in January 2009, President Obama appears to have been on a mission to claw back billions of tax dollars he claims the US is losing each year. A progressive regime of new laws and policies has been introduced to attack US individuals and corporations seeking to (legally) limit their tax obligations through the use of overseas jurisdictions. Read Full Article »

Most of us tend to forget the fact that there is an enormous difference between the operation of the two types of bank account mentioned above. First of all, however, we should clarify exactly what we mean by offshore and onshore banking. It will be easier to understand the difference between the two if we look at the second one first. In the case of onshore banking, speaking strictly about corporate accounts, the company generally opens an account in the country in which it is registered, which also tends to be where the owners live or are resident and where the company carries out its business activities. Read Full Article »

To be brief and to the point, the answer is yes. And there are several layers to this categorical yes which are worth exploring and taking into account when analysing the way things may develop in the future. It would appear from many points of view that this year is going to be about Cyprus in European business circles, even if, albeit more than six months ago, the islands banks closed down for two weeks  unheard of in modern business history  and they only operated under severe restrictions once they reopened. Read Full Article »

Every maritime or aircraft vehicle owner, whether a businessman or a private person, requires a flag for their vehicle, i.e. the vehicle is to be registered. In the world of today, we see that a significant amount of vessels are registered in the so-called offshore jurisdictions that have developed their Maritime and Aircraft Management Legislation specifically to attract international customers. Read Full Article »

The British Virgin Islands (BVI) is the worlds second largest offshore investment funds domicile with approximately 2,500 registered funds and growing. BVI funds are governed by the Securities and Investment Business Act, 2010 (Siba) and the Mutual Fund Regulations, 2010 both successors to the renowned and highly successful Mutual Funds Act of 1996. Read Full Article »

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